FINANCIAL ADVISOR
The Herb Chambers Companies
M&A Advisory
Has Agreed To Be Acquired By
Transaction Details
The Herb Chambers Companies (HCC) has signed a definitive agreement to be acquired by Asbury Automotive Group, Inc. (NYSE: ABG). HCC generates $2.9 billion of revenue through 33 dealerships, 52 auto retail franchises and 3 collision centers.
HCC is a flagship New England Region platform and the fourteenth largest privately-owned dealership group in the country, as ranked by revenue.
Herb Chambers will retain ownership of Mercedes-Benz of Boston in Somerville, Massachusetts.
This marks the largest auto dealership acquisition since 2021 and the 3rd largest M&A transaction in the history of the auto dealership industry. Stephens has successfully represented the sellers on 2 of the 3 largest M&A transactions in auto dealership history – Larry Van Tuyl and Herb Chambers.
WilmerHale served as legal counsel to The Herb Chambers Companies.
About the company
Asbury Automotive Group (NYSE: ABG)
Asbury Automotive Group, Inc. (NYSE: ABG), a Fortune 500 company headquartered in Duluth, GA, is one of the largest automotive retailers in the U.S. As of December 31, 2024, Asbury operated 152 new vehicle dealerships, consisting of 198 franchises and representing 31 domestic and foreign brands of vehicles. Asbury also operates Total Care Auto, Powered by Landcar, a leading provider of service contracts and other vehicle protection products, and 37 collision repair centers. Asbury is recognized as one of America’s Fastest Growing Companies 2024 by the Financial Times and the Company is listed among the World’s Most Trustworthy Companies 2024 by Newsweek.
The Herb Chambers Companies (HCC)
Founded in 1985, The Herb Chambers Companies is one of the nation’s largest private auto dealership groups and one of the leading automotive retailers in the New England region. HCC employs more than 2,200 people in locations throughout Massachusetts and Rhode Island, with most of its dealerships located in and around Boston. Herb Chambers is consistently named as one of the Boston Globe’s “Top Places to Work.”
Sources: Company Materials.
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